FITTED bedroom furniture retailer Sliderobes returned to profit after restructuring its debts through a CVA and a change of ownership.

The 15-store wardrobes maker and retailer, headquartered in Northern Ireland but with stores across the British Isles, made more than £210,000 after tax in 2016, near-reversing a £315,219 loss from the prior year.

Sliderobes' ownership last year transferred to existing director Mervyn McCall supported by entrepreneur Paul Rothwell, as The Furnishing Report revealed last autumn (see related).

Subsequent statutory filings confirm its former owner has retained a minority stake in the company. Sliderobes agreed the company voluntary arrangement in the summer of 2015, and kept to all the agreed payments during the year under review, according to just-filed accounts.

It is scheduled to save more than £500,000 through the write-off of liabilities from its CVA over its five-year term. The company hasn't disclosed its top line since 2013, when revenue totalled £9.3 million.

Related Story
Takeover at bedrooms company Sliderobes Group

To Read The Full Story: